It's now official: the legendary Los Angeles Lakers NBA franchise has been sold for $10 billion. A staggering sum that sets a new all-time record in the world of professional sports.
The group led by Mark Walter, already owner of the Los Angeles Dodgers (baseball), is buying back the majority of the shares held by the Buss family, who had run the team since 1979. A historic chapter is turning. As a reminder, Jerry Buss bought the Lakers in 1979 for just $67,5 million.
Who is Mark Walter, the new boss?
Mark Walter is the founder of the investment group Guggenheim Partners. He already owns the Dodgers (baseball), the Sparks (women's basketball), a share of the English football club Chelsea, and a stake in Formula 1 through TWG Global.
It is now becoming a central player in world sport, with an impressive portfolio.
And Jeanie Buss in all this?
Even after the sale, Jerry Buss's daughter, Jeanie Buss, will retain a governance role within the franchise, as well as an estimated 15% minority stake. She will continue to represent the Lakers to the NBA.
Its goal: to ensure the continuity of the Lakers identity and culture, while adapting to a new era of growth.
The reactions were swift. Magic Johnson, Lakers legend and Walter's longtime partner, welcomed the sale: "Lakers fans should be thrilled. Mark Walter is a winner, committed to building a top-tier team every season."
